NEW YORK, March 4, 2016 /PRNewswire/ -- Tripp Levy PLLC, a law firm representing investors seeking to recover money lost due to investment fraud, is investigating possible securities fraud claims involving Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor"or the "Company"). This investigation relates to recent announcements by Brixmor.
On February 8, 2016, Brixmor announced that "Chief Executive Officer Michael Carroll, President and Chief Financial Officer Michael Pappagallo, and Chief Accounting Officer Steven Splain, along with an accounting employee, have resigned, effective immediately. Mr. Carroll has also stepped down from the Company's Board of Directors."
The Company further announced that "[t]hese management changes follow the completion of an Audit Committee review that began after the Company received information in late December 2015 through its established compliance processes. The review led the Board to conclude that specific Company accounting and financial reporting personnel, in certain instances, were smoothing income items, both up and down, between reporting periods in an effort to achieve consistent quarterly same property net operating income ("same property NOI") growth, an industry non-GAAP financial measure."
If you have investment losses in Brixmor and would like to discuss your rights regarding this matter, or if you wish to share information about the matter, you may contact us at:
Tripp Levy PLLC represents individual and institutional shareholders in securities matters and has assisted in the recovery of billions of dollars for shareholders in securities actions around the globe.
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SOURCE Tripp Levy PLLC